Baird Financial Group Inc. Lowers Position in DT Midstream, Inc. (NYSE:DTM)

Baird Financial Group Inc. reduced its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 6.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 112,998 shares of the company's stock after selling 7,669 shares during the quarter. Baird Financial Group Inc. owned 0.12% of DT Midstream worth $11,235,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in DTM. Wilmington Savings Fund Society FSB purchased a new position in DT Midstream in the 3rd quarter worth about $29,000. Bessemer Group Inc. increased its stake in shares of DT Midstream by 61.6% in the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company's stock valued at $30,000 after buying an additional 117 shares in the last quarter. AdvisorNet Financial Inc increased its position in DT Midstream by 106.7% in the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company's stock worth $31,000 after purchasing an additional 160 shares during the period. Sound Income Strategies LLC boosted its holdings in DT Midstream by 93.7% during the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company's stock worth $34,000 after buying an additional 163 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of DT Midstream by 53.2% during the 4th quarter. UMB Bank n.a. now owns 481 shares of the company's stock valued at $48,000 after purchasing an additional 167 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Stock Performance

DT Midstream stock traded up $2.19 during midday trading on Tuesday, reaching $102.36. 272,059 shares of the stock traded hands, compared to its average volume of 864,804. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The firm has a market cap of $10.40 billion, a price-to-earnings ratio of 24.91 and a beta of 0.77. The firm has a fifty day moving average price of $95.79 and a two-hundred day moving average price of $99.18. DT Midstream, Inc. has a fifty-two week low of $64.56 and a fifty-two week high of $114.50.

DT Midstream (NYSE:DTM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.01). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The firm had revenue of $288.81 million for the quarter, compared to analyst estimates of $285.48 million. During the same period in the prior year, the company posted $0.99 EPS. On average, equities research analysts forecast that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.28 dividend on an annualized basis and a yield of 3.20%. DT Midstream's dividend payout ratio (DPR) is 89.37%.

Insider Buying and Selling

In other DT Midstream news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the company's stock in a transaction on Monday, March 10th. The shares were purchased at an average cost of $86.92 per share, with a total value of $86,920.00. Following the completion of the purchase, the director now owns 38,653 shares of the company's stock, valued at approximately $3,359,718.76. This represents a 2.66% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased a total of 1,235 shares of company stock worth $109,867 in the last three months. 0.34% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Bank of America initiated coverage on DT Midstream in a research report on Monday, March 24th. They set a "buy" rating and a $110.00 price objective on the stock. UBS Group raised their price objective on shares of DT Midstream from $102.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Barclays decreased their price objective on shares of DT Midstream from $107.00 to $102.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. Wells Fargo & Company dropped their target price on shares of DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Finally, Morgan Stanley upped their price target on shares of DT Midstream from $92.00 to $105.00 and gave the company an "underweight" rating in a report on Tuesday, March 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, DT Midstream presently has an average rating of "Hold" and an average target price of $108.27.

DT Midstream Profile

DT Midstream, Inc, together with its subsidiaries, provides integrated natural gas services in the United States. The company operates through two segments, Pipeline and Gathering. The Pipeline segment owns and operates interstate and intrastate natural gas pipelines, storage systems, and natural gas gathering lateral pipelines.